The acquisition of Carbon360 and its team of experts led by founder Brian Shapiro greatly expands Opalesque's footprint in the operations, technology and market research space at a time when the investment management community's interests in operational risk mitigation and business sustainability are growing. Brian Shapiro will be staying on as Senior Research Fellow and the Carbon360? name and brand identity will continue as a wholly owned subsidiary of Opalesque, Ltd.

Carbon360?, established in 2002 with the mission of delivering the most in-depth research on critical enterprise software systems and operations trends, by profiling hundreds of different platforms from leading vendors like Sungard™, Advent™ and Thomson Reuters™ etc., Carbon360? specializes in analyzing software companies' performance on functional, support and application development issues.The acquisition will bring together two established firms with deep expertise, and allow Opalesque to address the financial services industry's expanding front and back office research needs.

"A myriad of short and long-term questions, particularly around operational efficiency, outsourcing, and business sustainability, are playing an increasingly important role in the way investment management companies invest in and view their operations and associated  risk," said Brian Shapiro, founder of Carbon360?. "Opalesque is one of the few media firms that has successfully taken both a quantitative and qualitative approach to assessing and reporting on industry issues. Opalesque has helped tens of thousands finance professionals and investors to better understand complex investment-related and operational questions."

Opalesque publishes 10 specialist publications focusing on alternative investments, hedge funds, commodities, real estate, Islamic finance, managed futures/CTAs, "alternative alternatives", technical (chart) analysis and sovereign wealth funds. In a week, over 600,000 issues of Opalesque publications are read in over 160 countries. With the acquisition of Carbon360?, clients will have access to a vast expanse of accumulated data on over 500 different software and service providers and a suite of selection, evaluation and market research services.

"It would be an understatement to say that today's turbulent market environment is placing an unprecedented premium on understanding the entire spectrum of investment and operational risks – both traditional and non-traditional," said Matthias Knab, founder of Opalesque, Ltd. "By combiningCarbon360?research with Opalesque's leading media capabilities and worldwide distribution, we can help

asset managers and other financial institutions make more-informed decisions. Carbon360?  Reports like the Carbon360?  Fund Administration Report or its acclaimed vendor cross-comparative Matrixes are already the authoritative selection guide for the industry. Opalesque looks forward to support the compilation and distribution of vital research like the Carbon360? Matrixes on Risk Systems, Trading Systems, Investor Relationship Management and Hedge Fund Accounting."

About Opalesque Ltd.:

Opalesque was formed in 2001 to provide professional news services to participants in the financial and alternative investment sector. Since inception, Opalesque has been providing premium online information services related to the hedge fund and investment industries. In 2003, with the publication of its daily

Alternative Market Briefing, Opalesque successfully launched an information revolution in the hedge fund

media space: "Opalesque changed the world by bringing transparency where there was opacity and by delivering an accurate professional reporting service." - Nigel Blanchard, Culross. Its banner publication

Alternative Market Briefing is the only daily hedge fund news service read by the elite hedge fund managers themselves (http://www.opalesque.com/op_testimonials.html).

About Carbon360? Research

Carbon360° is the Investment Management Industry's leading operations and technology research and intelligence source. Carbon360 products range from award winning, exclusive Matrix reports which profile and compare hundreds of Investment Management software products side by side, to white papers focusing on the most important issues facing the traditional and alternative asset management sector

today.

Media Inquiry:

Denice Galicia

Marketing Director

Opalesque Ltd.

(+1) 917-449-5353

dgalicia@opalesque.com

www.opalesque.com

Brian Shapiro

Founder & Senior Research Fellow

(+1) 646-432-3322

bshapiro@carbon360.com